Illinois farmland prices reach $14,359 per acre in Schrader auction

CLINTON, Ill., March 25, 2014 /PRNewswire/ — Two farms in Dewitt County, Ill.,
sold for a total of $7,089,000 Tuesday in a Schrader auction that attracted more
than 30 registered bidders and saw intense competition for the farmland.

The 255.7-acre farm offered in three tracts sold for $3,672,000, or $14,359 per
acre. The second farm, which consisted of 285.4 acres offered in four tracts,
sold for $3,417,000, or $11,972 per acre. The farms were located between Decatur
and Clinton.

“These were great outcomes on both farms, with standing-room only crowds and
solid participation from farmers and investors alike,” said R.D. Schrader,
president of Schrader Real Estate and Auction Company, which marketed the
properties and conducted the auction. “We’re continuing to see auction results
that reflect strong farmland values, because farmland remains a sound long-term
investment,” said Schrader.

He added that operators continue to be strong bidders in land auctions. “When a
farmer can add some land to extend his operations, he tends to be thinking long
term. In some areas, a farm family may have to wait decades to have an
opportunity to purchase a nearby farm, so it’s not surprising when farmers
emerge as the high bidders,” said Schrader.

Upcoming auctions include three Indiana farmland auctions the week of March 17 –
50 acres in Madison County, 234 acres in Wayne County, and 541 acres in Sullivan
County. Individuals interested in additional information on those and other
auctions may visit www.schraderauction.com or call 800-451-2709.

Schrader Real Estate and Auction Company, based in Columbia City, Ind., is a
leading auctioneer of agricultural land throughout the United States and is a
four-time USA Today/National Auctioneers Association Auction of the Year Winner,
as well as a two-time winner of the Grand Champion Marketing Award of
Excellence.

For more information:
Carl Carter, 205-823-3273

SOURCE Schrader Real Estate and Auction Company

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